ATCO (TSE:ACO.X) Stock Price Passes Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• ATCO Ltd. shares surpassed their two hundred day moving average of C$49.76, trading as high as C$50.86, indicating positive market momentum.
• Royal Bank Of Canada has raised their price target for ATCO from C$51.00 to C$53.00, while TD Securities has lowered theirs from C$56.00 to C$55.00.
• Insider transactions include a sale of 1,500 shares by Senior Officer Rebecca M. Kalmacoff and a purchase of 7,407 shares by Sentgraf Enterprises Ltd., reflecting diverse insider sentiment.

ATCO Ltd. (TSE:ACO.X - Get Free Report) shares crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$49.76 and traded as high as C$50.86. ATCO shares last traded at C$50.81, with a volume of 277,336 shares traded.

Analyst Ratings Changes

Several research firms recently weighed in on ACO.X. Royal Bank Of Canada raised their price objective on ATCO from C$51.00 to C$53.00 and gave the company a "sector perform" rating in a research note on Thursday, May 8th. TD Securities reduced their price objective on ATCO from C$56.00 to C$55.00 and set a "hold" rating on the stock in a research note on Friday, August 1st.

ATCO Stock Performance

The company has a 50-day simple moving average of C$50.83 and a two-hundred day simple moving average of C$49.76. The company has a quick ratio of 1.48, a current ratio of 1.42 and a debt-to-equity ratio of 131.63. The firm has a market cap of C$5.07 billion, a PE ratio of 14.86, a PEG ratio of 3.80 and a beta of 0.74.

Insider Buying and Selling at ATCO

In other news, Senior Officer Rebecca M. Kalmacoff sold 1,500 shares of the company's stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of C$51.40, for a total transaction of C$77,100.00. Also, insider Sentgraf Enterprises Ltd. purchased 7,407 shares of the company's stock in a transaction dated Monday, June 9th. The shares were purchased at an average cost of C$50.55 per share, for a total transaction of C$374,423.85. 0.61% of the stock is currently owned by insiders.

ATCO Company Profile

Atco Ltd is a Canadian holding company that offers gas, electric, and infrastructure solutions. The largest subsidiary of the company is Canadian utilities, which operates natural gas, electricity, and logistical services. Atco's primary segments include Structures and Logistics; Utilities; Energy Infrastructure; Neltume Ports and Corporate and Other.

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